10x Genomics (NASDAQ:TXG) Earns Neutral Rating from Analysts at Piper Sandler

Key Points

• Analysts at Piper Sandler have initiated coverage of 10x Genomics (NASDAQ:TXG) with a "neutral" rating and a price target of $15.00, suggesting a potential upside of 19.14% from its previous close.
• Other brokerage firms have varied ratings on the stock, with Morgan Stanley maintaining an "overweight" rating and lowering the price target from $18.00 to $17.00, while Zacks Research downgraded it from "strong buy" to "hold."
• 10x Genomics reported better-than-expected quarterly earnings, with a revenue of $172.91 million, surpassing estimates, and a significant EPS of $0.28 compared to a consensus estimate of ($0.35).

Stock analysts at Piper Sandler began coverage on shares of 10x Genomics (NASDAQ:TXG - Get Free Report) in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage set a "neutral" rating and a $15.00 price target on the stock. Piper Sandler's target price indicates a potential upside of 13.97% from the stock's current price.

TXG has been the subject of a number of other reports. Bank of America boosted their target price on shares of 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Canaccord Genuity Group set a $16.00 target price on shares of 10x Genomics in a research note on Monday, August 11th. Zacks Research lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. Weiss Ratings reissued a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday, August 30th. Finally, Stephens reissued an "overweight" rating and set a $14.00 target price on shares of 10x Genomics in a research note on Thursday, May 15th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $13.65.

10x Genomics Price Performance

Shares of TXG traded down $0.19 during mid-day trading on Thursday, reaching $13.16. 1,364,052 shares of the company's stock traded hands, compared to its average volume of 3,310,651. The stock has a market cap of $1.64 billion, a P/E ratio of -18.81 and a beta of 2.00. The stock's 50-day moving average is $13.24 and its two-hundred day moving average is $10.83. 10x Genomics has a 12 month low of $6.78 and a 12 month high of $24.38.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.63. The firm had revenue of $172.91 million during the quarter, compared to analyst estimates of $139.36 million. 10x Genomics had a negative return on equity of 12.88% and a negative net margin of 13.13%.10x Genomics's quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned ($0.32) EPS. 10x Genomics has set its Q3 2025 guidance at EPS. Research analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Benjamin J. Hindson sold 7,486 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $13.79, for a total value of $103,231.94. Following the completion of the sale, the insider directly owned 440,888 shares of the company's stock, valued at $6,079,845.52. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Serge Saxonov sold 9,348 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $13.79, for a total transaction of $128,908.92. Following the completion of the sale, the chief executive officer directly owned 945,892 shares of the company's stock, valued at approximately $13,043,850.68. This trade represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,149 shares of company stock valued at $539,865 over the last three months. 10.03% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

Hedge funds have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new stake in 10x Genomics in the fourth quarter worth about $32,000. Allworth Financial LP lifted its position in shares of 10x Genomics by 150.4% during the second quarter. Allworth Financial LP now owns 2,271 shares of the company's stock valued at $26,000 after buying an additional 1,364 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 10x Genomics by 81.8% during the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock valued at $31,000 after buying an additional 1,614 shares during the last quarter. True Wealth Design LLC lifted its position in shares of 10x Genomics by 1,552.5% during the second quarter. True Wealth Design LLC now owns 3,586 shares of the company's stock valued at $42,000 after buying an additional 3,369 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of 10x Genomics by 134.3% during the first quarter. Signaturefd LLC now owns 4,203 shares of the company's stock valued at $37,000 after buying an additional 2,409 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.